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Summary

Party autonomy is often said to be the backbone of international arbitration. This liberalist thinking rests upon the premise that arbitration is a dyadic process between two rational parties. On this view, party autonomy is not only the source of any arbitral tribunal’s adjudicatory authority; it also allows the parties to decide how that adjudicatory authority is to be exercised.

Summary

The principle of party autonomy in international arbitration rests upon the premise that individuals are rational maximizers of their own welfare. However, the reality sometimes differs and a number of parties suffer from weaknesses. Such weaknesses may originate from imperfect information, from insufficient expertise of the parties in testing information against their own preferences, or from the lack of bargaining power or financial means to implement their choices in practice. There is a risk that strong opportunistic actors exploit such weaknesses for their own benefit. In a worst-case scenario, this may result in undermining the weak parties’ fundamental right to access to justice

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3 - Limitations to Party Autonomy in International Arbitration

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57 - Weak Parties in International Arbitration

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2 results

3 - Limitations to Party Autonomy in International Arbitration

Summary

57 - Weak Parties in International Arbitration

Summary